UK bank says 1,000 job cuts already done with a further 4,000 to go before year end, driven by advances in AI, French risk premium over German bonds widest since 2011 A Barclays spokesperson sent us this comment about the 5,000 job cuts, which bosses said are driven by advances in artificial intelligence, which is making “our people more productive”. We are positioning Barclays for the future, building the workforce and skills needed to deliver our strategy and meet the evolving needs of our customers and clients. In doing so we are committed to helping our colleagues develop and build rewarding careers, while meeting the changing needs of customers and clients and ensuring Barclays continues to succeed in the years ahead. These actions involve an expected reduction of circa 5000 full time employees, around 60% of the group actions relate to support functions, including theory developers